[Fast Eddie]

Nothing to see here, folks. Just another boring business article:
So Long, Yankees! China And Brazil Ditch US Dollar In Trade Deal Before BRICS Summit

And it starts....

 

[Ripon]

It is tantamount to a family on a $30,000 a year budget putting about $100 or less into silver bullion. The article, 2nd paragraph, notes the trade balance between the two at $30 billion. China's GDP is on course to exceed our own in a few years so that means their GDP is probably $13 trillionish right now? 30 billion out of 13 trillion is $1/433 so the family with $30,000 its them spending $69 on silver or another prep.

Its worth watching to see if the continues or if other countries start doing it more and more. I'd be more concerned if they were promoting a UN currency in place of the dollar.

 

[Verteidiger]

If anything, it reaffirms the dominance of the U.S. dollar as the world's reserve currency - developing countries have to device trade arrangements to get around using the dollar for payment.

 

[rickkyw1720pf]

It is just another sign that the world is getting cautious about Americas huge debt. Russia has also made some of the same deals concerning oil trade. We have countries wanting the return of their gold and we now have Texas wanting their gold reserves moved from NY to their own state. The bottom line is if our government keeps printing money to a point that other countries no longer accept it the dollar will become worthless.

 

[Inor]

I am not too worried about it yet. The Chinese Yuan is still pegged to the dollar. So unless China decides to "unpeg" (which would actually be a good thing for U.S. exports), it is like saying "we are no longer going to trade in U.S. Dollars. Now we are only going to trade in quarters."

But it is something to watch.